A fr(ee)ly transparent Credit Product

I can’t speak for anyone else. I, however, am of the opinion that my complaint listed below will be relatable with many customers who utilise a credit card facility with ABSA bank.

At 05:48 this morning - luckily I have to be up for an appointment early this morning, the first SMS I notice on my phone is:

“Absa: You have insufficient funds for this online purchase on credit card ending in **6023. To check if you qualify for a credit limit increase, see Offers on the Banking App or Absa Online. T&C apply. Auth FSP/NCRCP7”

The main (but one of many) problem that I have with this approach to transaction notifications within this context is:

1. I didn’t attempt any transaction(s) on my credit card at 05:48 this morning. I also notice this sms doesn’t show any “specifics” - but I’ve also realised how at a certain time, for my credit card facility - post a certain time every night (+- 22:00 or around this time) real-time notifications of any transactions on my credit card are not delivered in real-time. (As I have another credit card account with another bank - this bank doesn’t make your brain run miles: it is irrelevant at the time the transaction is declined: I’m notified that the specific transaction is declined at the time it was attempted, and subsequently declined, specifics of which include: The merchant who attempted to charge my account, the exact time of the declined transaction, the value of the transaction that was declined and lastly the decline fee (R4,50). This is definitely

2. ABSA: I will use this morning’s transaction as I believe it’s relevant: “Absa: You have insufficient funds for this online purchase on credit card ending in **6023. To check if you qualify for a credit limit increase, see Offers on the Banking App or Absa Online. T&C apply. Auth FSP/NCRCP7” - my core problem is primarily the lack of specifics. “This online purchase” - as I indicated, I didn’t make any purchase at 05:48, (despite the fact that this is a problem on its own, from roughly 22:00 onwards from the previous night, I confirmed after becoming aware of this particular situation that indeed I didn’t receive any transaction notifications on my credit card (as mentioned above) - to me, this creates the perfect opportunity for any ***** and/or financial crime to occur on my credit card account.

This is a big problem to me - why can transactions be delivered in real-time during the day, yet these transaction notifications can not be delivered in real-time during the night? (Except for when the “batch processing ends”/service semi-resumes (I’ve noticed the only SMS’ delivered to me post 22:00 are, how surprising: “Absa: You have insufficient funds for this online purchase on credit card ending in **6023. To check if you qualify for a credit limit increase, see Offers on the Banking App or Absa Online. T&C apply. Auth FSP/NCRCP7”

2.1) Furthermore, this is further compounded by the fact that on my bank statement for any declined transaction on my credit card account, I can only see: “insufficient funds fee” R10 (there’s no description of the transaction that was declined; there’s no way I can pinpoint whatever transaction was declined. (if for example this morning’s scenario - this cannot be shown on my statement, I logged into my banking app, and there was no indication of a declined transaction, none whatsoever -I do not know how to identify the transaction. If I had to call into ABSA’s ***** department, not only would I wait for 30+ minutes but if the call cuts ABSA does not seem show attentiveness as there would be no callback (this is purely my experience)

If one bank in today’s modern age can show their consumer which transaction was declined at what time - it says the transaction that is declined is delivered to the client in real time it shows the declined amoun, the identification of the merchant and also the fee - I’d love to believe Absa puts their clients first: how does the system ABSA’s credit card facility/product put client’s best interests first; so for me - I feel I cannot trust the balance I take note of when I go to sleep, is the balance that I will wake up to the following day. (I’ve also encountered in the past, very hollow $ non-specific responses to specific questions of mine so if ABSA decides to respond please can ABSA address, one-by-one, my core problems listed in my complaint above. Otherwise, please don’t respond to this complaint.